Technology Transfer, University of Rochester Medical Center Connecting corporate and academic researchers to advance science and human health

Biotechnology Innovation

Recognizing a need for technology transfer services specific to its medical faculty and to healthcare innovation, the University of Rochester established the URMC Office of Technology Transfer in 2001. The office is rapidly evolving and its responsibilities have recently expanded to include increased involvement in emerging biotechnology company development.

The biotechnology industry, fueled by federal investment in biomedical research and improved patent laws, doubled in size between 1993 and 1999. According to the Biotechnology Industry Organization (BIO), 1300 biotech companies spent $13.8 billion on research and development in 2000, more than double what the pharmaceutical industry spends, making biotech the largest spender of all U.S. industries. The biotech industry has spawned more than 130 commercially approved drugs, biologics and vaccines, benefiting more than 250 million people.

In 1996, The University of Rochester Medical Center (URMC) embarked on a 10-year $500 million strategic plan to restore its research preeminence. NIH funding rose from $70 million in 1997 to more than $122 million in 2002, with 352 NIH-funded projects and eleven departments in the top twenty for NIH grants funding. In addition, URMC receives $57 million in grants from other sources.